Individual – Tax Checklist

INDIVIDUAL TAX CHECKLIST

Bringing Key Records to Your Certified General Accountant

INCOME

  • Employment income (All T4 Slips)
  • Investment income (T5)
  • Pension income (T4A, T4A(P), T4RIF, T4RSP)
  • Employment insurance (T4E)
  • Trusts income-mutual fund investments (T3)
  • Old age security/CPP benefits (T4OAS)
  • Income from partnerships (T5013)
  • Social assistance payments (T5007)
  • Workers compensation
  • RRSP Withdrawals
  • Rental Income
  • Business, Farm or Fishing Income
  • Spousal support payments received
  • Income from foreign investments
  • Details of real estate sales
  • Sale of securities such as stocks and bonds
  • (eg. trading summary from your broker)
  • All other income

DEDUCTIONS – GENERAL

  • RRSP contributions
  • Medical expenses
  • Private health plan payments
  • Child care expenses
  • Charitable donations
  • Political contributions receipts
  • Tuition/education amount (T2202A)
  • Interest paid on student loans
  • Child/Spousal support payments
  • Moving expenses
  • Interest charges/Safety deposit
  • Disability credit (T2201)
  • Property taxes/rent paid and to whom
  • Professional dues, union dues
  • Adoption expenses
  • Certain Legal fees
  • Tool expenses (trades person)
  • First time home byuers

DEDUCTIONS – EMPLOYEES

  • Conditions of employment form (T2200)
  • Home office expenses
    • Business portion (Area)
    • Rent/Mort interest paid
    • Utilities
    • Insurance
    • Property taxes
  • Commission sales-person
    • Advertising/Promotion
    • Meals & Entertainment
  • Motor vehicle expenses
    • Total KM/KM for work
    • Lease payments
    • Loan interest
    • Insurance
    • Repairs & Maint.
    • Gas & Fuel
    • License & Reg.

UNINCORPORATED BUSINESSES

  • Total sales for the year
  • Total expenses by category
  • Capital assets acquired
  • Home office/Vehicle expenses

RENTAL PROPERTIES

  • Address and number of units
  • Rental income by unit
  • Rental expenses by unit/category
  • Motor vehicle expenses
  • Partners’ names, addresses and SINs
  • Legal fees

OTHER ITEMS

  • Notice of Assessment (Prior Year)
  • Tax returns (Prior Year)
  • Other years’ reassessments
  • Contact/personal details if changed
  • Details of foreign property
  • Installment payments

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